When Eros Met Apple: Cos Ex­plore $1-b Con­tent Sale

Talks on with Ama­zon, Net­flix as well; Eros also look­ing at a re­verse merger

The Economic Times - - Front Page -

Ari­jit Bar­man, Gau­rav Laghate & In­du­lal PM

Mum­bai: Eros Group, the largest movie pro­ducer in In­dia, is in talks with Apple Inc to sell its en­tire con­tent li­brary of films and mu­sic for around $1 bil­lion, ac­cord­ing to sev­eral peo­ple aware of the ne­go­ti­a­tions. A deal may also in­clude dig­i­tal OTT (over-the-top) plat­form Eros Now.

An ac­qui­si­tion by Apple would turn the world’s most valu­able pub­lic com­pany into a se­ri­ous con­tender in the video stream­ing mar­ket in In­dia, where Apple TV has made lit­tle im­pres­sion com­pared with Ama­zon, Net­flix and home­grown ri­vals.

Par­al­lel dis­cus­sions with Ama­zon and Net­flix have also gath­ered mo­men­tum as the Kishore Lulla-led com­pany is plan­ning a re­struc­tur­ing ex­er­cise that’s likely to re­sult in a re­verse merger of its NYSE-listed

A New Script for the In­dian Mar­ket

In­dia since 2013

par­ent Eros In­ter­na­tional Plc with lo­cally listed arm Eros In­ter­na­tional Me­dia by the end of this fi­nan­cial year to cre­ate a sin­gle listed firm.

Al­le­ga­tions of cor­po­rate mis­gov­er­nance, non-trans­par­ent re­lated party trans­ac­tions, fi­nan­cial mal­prac­tices and fraud have rat­tled in­vestors since 2015. The com­pany has al­ways de­nied any ir­reg­u­lar­i­ties.

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